301: [Phil McGilray] Grandma's Jars to Business Stars: Simplifying Financial Freedom
In this episode of About That Wallet, I welcome the insightful Phil McGilray, a seasoned financial coach with a wealth of experience in personal finance and entrepreneurship. They delve into the transformative power of budgeting, highlighting Phil's unique approach inspired by his grandmother's method of using glass jars to manage money. Phil shares how this tactile strategy can help individuals regain control over their finances, making budgeting a more engaging and effective process.
The conversation explores the importance of financial literacy for aspiring entrepreneurs, emphasizing the need to understand cash flow and basic business finance. Phil breaks down the Thrive Financial Protocol, a framework designed to help entrepreneurs build sustainable businesses while ensuring they maintain a healthy work-life balance. Listeners will learn about the key metrics to track, the significance of transparency, and how to reclaim joy in their entrepreneurial journey.
Additionally, Phil discusses the challenges of navigating the complexities of starting or buying a business, urging listeners to approach entrepreneurship with clarity and purpose. He emphasizes the importance of making a difference through one's work and how financial success can enable individuals to give back to their communities.
💬 Question of the Day: What budgeting methods have you found most effective in managing your finances? Share your thoughts in the comments!
🔗 Connect with Phil McGilray:
Personal Finance: https://grandmasjars.com
Business Finance: https://philmcgilray.com
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=|| 📚 Chapters ||=
(00:00) Welcome and Introduction
(02:30) Phil's Financial Journey
(10:15) The Glass Jars Budgeting Method
(20:00) Understanding Cash Flow for Entrepreneurs
(30:15) The Thrive Financial Protocol Explained
(40:00) Navigating Business Ownership
(50:30) Final Thoughts and Resources
(55:00) How to Connect with Phil
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Episode 301
Transcript
>> Phil McGilray: Uh, five years, I paid off over $18 million in
Speaker:credit card debt simply by following that process.
Speaker:>> Anthony Weaver: That's amazing. That's definitely amazing.
Speaker:>> Phil McGilray: It's. It's as I said it, because I've been doing this for so
Speaker:long, you basically develop these processes,
Speaker:these that help you explain things to
Speaker:people so they understand. Oh, okay.
Speaker:This is the step I'm up to. I need to do this first, and
Speaker:then what do I need to do to move the next step? And it
Speaker:just makes it so much simpler. So, yeah, go for.
Speaker:>> Anthony Weaver: Welcome, everybody, back to another exciting show, the about
Speaker:that Water podcast, where we help the sandwich generation
Speaker:build strong financial habits so that they can talk about money,
Speaker:spend money, and enjoy their money with
Speaker:confidence. Today I have an awesome person who
Speaker:has been doing such an amazing job when
Speaker:it comes to understanding your finances and
Speaker:allowing you to have the freedom to
Speaker:even start looking into starting a business. The reason
Speaker:why I have this, uh, amazing person on is
Speaker:because I really think this will be a great way
Speaker:to kind of segue some of your free time
Speaker:and actually help bring your child into
Speaker:the world of entrepreneurship. Even though you can
Speaker:be the first one to break that generational, uh,
Speaker:curse, or I guess you could say
Speaker:challenge of not having or even owning a
Speaker:business. I think this episode is going to be for you. And
Speaker:the person I want to have on today is Phil. How you
Speaker:doing today, Phil?
Speaker:>> Phil McGilray: Yeah, great. Thanks, Anthony. Very excited to be here, mate.
Speaker:Very excited. Thanks for having me, um, on.
Speaker:>> Anthony Weaver: Oh, uh, no problem. And to make sure I got, um,
Speaker:your last name right is McGro
Speaker:McGilvery.
Speaker:>> Phil McGilray: McGilray McGill. Right. You're pretty close. Well done,
Speaker:mate. It's not easy.
Speaker:>> Anthony Weaver: Okay, Right. Thank you for allowing
Speaker:me to, uh, correct me on that because,
Speaker:you know, it's so cool to actually meet somebody from
Speaker:internationally to come on the show because you get
Speaker:a different view of finances. But I
Speaker:like your story and where you're coming from because
Speaker:it shows that finances is
Speaker:global in the way how we approach
Speaker:finances is such a,
Speaker:uh, a way of life. Does that make sense?
Speaker:So, yeah, can you tell us a little bit about, like,
Speaker:you know, why Grant? Why Grandma's
Speaker:jars?
Speaker:>> Phil McGilray: M. Sure. Okay, well,
Speaker:um, I was one of the lucky
Speaker:ones, so 18. So when I was 18
Speaker:years old, um, I went and spent a year in
Speaker:the uk so I'm currently in Australia. I went and spent
Speaker:a year in the uk. Um, my English grandma
Speaker:lived over there. Um, I was an adventure
Speaker:trading instructor for a year at this beautiful place
Speaker:called Fairthorne Manor in the south of England. And we got
Speaker:paid the princely sum of £15 a
Speaker:week, uh, which isn't a lot of money. Although
Speaker:they did look after all my food and accommodation. So I
Speaker:can't complain. It was one of the best years of my life. But
Speaker:getting by on £15 was not
Speaker:easy. Um, and so my English grandma, I
Speaker:went to visit her. It was about a three hour train ride, overseeing my
Speaker:English grandma. And, um, she
Speaker:taught me how to budget using physical glass
Speaker:jars and physical money, which I don't know whether your audience better see
Speaker:it, but on the shelf there behind me, I had the glass jars.
Speaker:And she literally had these glass jars sitting in the
Speaker:cupboard above her stove top. Uh, she would
Speaker:go every month, she would walk around to the post
Speaker:office, pick up her pension in cash because
Speaker:these are the days for Internet banking. She would walk home,
Speaker:um, and she took down the jars and she knew exactly how
Speaker:much she needed to put in each jar. So like, one jar was
Speaker:electricity and another jar was housekeeping and another
Speaker:jar was, um, for the gas
Speaker:or the milkman or, um, I can't remember
Speaker:what the other ones were now, but she had these glass jars and she
Speaker:knew exactly how much she needed to put into those jars so
Speaker:that when those expenses turned up, the money was just there,
Speaker:ready to go. Um, and as a result of that, my grandma,
Speaker:despite the fact my granddad died at a fairly young age,
Speaker:um, my grandma was able to pay off the home and actually
Speaker:retire, actually die a fairly wealthy woman because
Speaker:she'd invested what she didn't need to put in the jars.
Speaker:What was left over after, ah, she filled up the job she was able
Speaker:to take and put into mutual, uh, funds and those sorts of
Speaker:things. Um, so it was a very, very simple,
Speaker:very simple strategy that she taught me.
Speaker:I came home from the UK after a year,
Speaker:started teaching all my friends, um, the
Speaker:grandma's job. The glass jars went from,
Speaker:from glass jars to envelopes to
Speaker:paper budgets to, um, Excel
Speaker:spreadsheets. And then eventually we've got our own,
Speaker:um, apps and software and
Speaker:those sort of things these days. So, yeah, that's the
Speaker:story.
Speaker:>> Anthony Weaver: Nice. Because that's one of the things that,
Speaker:I guess in this digital realm we lose
Speaker:that, um, that tactile
Speaker:feature of finances.
Speaker:>> Phil McGilray: Yeah.
Speaker:>> Anthony Weaver: And because we don't feel like, you know, we're spending it,
Speaker:it's just kind of like, okay, well just go to this plastic thing. I'll just
Speaker:swipe and keep going.
Speaker:>> Phil McGilray: Yeah.
Speaker:>> Anthony Weaver: Like, how do we bring back almost
Speaker:that, uh, as you could say, that extra layer of
Speaker:tension before we Spin.
Speaker:>> Phil McGilray: It's a really good question. And I mean, really,
Speaker:I do think just having a budget that allows you to
Speaker:stay aware of where you're up to. So, uh, you
Speaker:know, with grandma, it was pretty simple. If there was money left in the jar,
Speaker:she could spend. If there wasn't, she couldn't. And so having an
Speaker:app that actually, um, having
Speaker:an app that gives you that feedback, so I can see
Speaker:how much I got in my jar, I record my expense, you know,
Speaker:entered into my jar, and then I can see, you
Speaker:know, on my phone app that it's now gone down.
Speaker:I've only got a little bit left. And so I think having that constant
Speaker:feedback, like the biggest problem that I see is people
Speaker:just have a lack of awareness of, uh, how much all those
Speaker:little bits of spending actually add up to by.
Speaker:So having some sort of way of just giving you that feedback
Speaker:is really important. Interestingly though,
Speaker:I, um, spent, um, three,
Speaker:three, four months traveling around the world learning
Speaker:about all the different financial literacy,
Speaker:you know, leading, leading practices, what works, what
Speaker:doesn't, and those sort of things. Um, and
Speaker:I still believe that with kids, even though it's not a
Speaker:big part of our society today, but whilst we've still got
Speaker:it, having cash to teach kids about money is actually
Speaker:really helpful because little ones are very visual, very
Speaker:tactile. So actually having coins, being able to give them
Speaker:coins, you know, using the, uh, three glass
Speaker:jars to just help them, you know, here's a little bit of spending money, it's a bit of
Speaker:giving money, and here's a bit of, you know, investing money. Like
Speaker:having those is actually still very, very helpful for people,
Speaker:uh, for little ones when we're teaching our kids about money.
Speaker:Um, so I still like that. Whilst we still have cash, I
Speaker:encourage parents still to use it, but if we're adults, of
Speaker:course we don't do that. But having some kind of
Speaker:budgeting system that actually gives you that awareness of
Speaker:I've just spent money and now I've got less, less to
Speaker:spend tomorrow is really important.
Speaker:>> Anthony Weaver: And how do we translate that
Speaker:style into doing
Speaker:our own business? So.
Speaker:>> Phil McGilray: Yeah, yeah, yeah, yeah.
Speaker:Okay. So, um, the, the thing with
Speaker:businesses, and I'll just give you a quick story about this is,
Speaker:um, I, I was just. So
Speaker:we can translate to why I'm looking at business now is
Speaker:I was a partner in Australia's leading stockbroking financial
Speaker:planning firm. I'd been. So I'd been financial coach for 35
Speaker:years, became a financial advisor about 10 years
Speaker:into, into that journey. Um,
Speaker:and Then realized that that wasn't where God wanted me to be
Speaker:or not at that point in time. So, ah, he really
Speaker:called me to leave that. Just as I got to the point where I was, you know,
Speaker:doing very, very well financially from it said, no, I
Speaker:want you to leave this and focus on financial literacy and
Speaker:financial education. I stepped out of that
Speaker:into my own world of building my own business
Speaker:and you know, it's that entrepreneurial world. And realized that most
Speaker:entrepreneurs have no idea how to manage their finances,
Speaker:uh, you know, like, and they don't because they've never
Speaker:been taught the basics either. And you think, well, if I've not been taught the
Speaker:basics personal finance, then I certainly haven't been
Speaker:taught the basics of business finance. And so it
Speaker:just, you know, it just becomes a really.
Speaker:You're pushing it uphill, uh, as an entrepreneur to make
Speaker:things work financially. Um, so,
Speaker:so that's why I got in the entrepreneur world. And then you start to learn
Speaker:more and more about all. And I've been sort of in that
Speaker:entrepreneurial world for about 10 years now and working
Speaker:with entrepreneurs of all shapes and sizes. And you get
Speaker:to learn what works and what doesn't because you get to see under
Speaker:the hood of look, this business might look brilliant
Speaker:on social media, but is it in reality actually any
Speaker:good? Um, and so what that has allowed me
Speaker:to do is develop, see, like, adapt
Speaker:grandma's principles to business. Um,
Speaker:and not coming from an accounting background, coming from more a cash
Speaker:flow background and helping people build successful
Speaker:businesses. And certainly, um,
Speaker:there, there are, it's not
Speaker:like, you know, you and I both know because we've been doing it for a long
Speaker:time. Finances aren't difficult when you, you
Speaker:take all the. Again, we have this financial
Speaker:overwhelm in our heads. We have this belief in our
Speaker:heads about how hard finance is because we've never been taught
Speaker:it. But in reality, the basics are super,
Speaker:super simple. You know, spend less than you earn,
Speaker:make sure you've got right money set aside for your known expenses,
Speaker:make sure you got money, set aside the unexpected expenses,
Speaker:and then invest, you know, and that it's, it's really
Speaker:not much harder than that. Um,
Speaker:and I think it's the same thing with business
Speaker:finances. Um, so that's.
Speaker:But, but we lose it. I think the biggest problem with
Speaker:entrepreneurial finances is we teach the money within our
Speaker:business. Teach, sorry, treat the money
Speaker:within our business like it's monopoly money.
Speaker:And so we, we spend it, uh,
Speaker:as if it's someone else's money almost. Um,
Speaker:whereas every dollar we spend in our business is a dollar
Speaker:we don't get to take home. So it's important that we have some
Speaker:kind of budgeting system or money management system
Speaker:that we have within our business. And that's what I spend a lot of
Speaker:time doing these days.
Speaker:>> Anthony Weaver: So what is the underlying thing that you
Speaker:found the most helpful for
Speaker:beginner businesses when they get started?
Speaker:>> Phil McGilray: The simple thing is just to know your numbers. Not to
Speaker:hide from them, but to know them. So again,
Speaker:not, not all that different to our personal finance. But with
Speaker:businesses, there's really five numbers that they need to know.
Speaker:The first number is, well, what was my revenue for the month?
Speaker:So that's the easy one. What did I bring in as a business?
Speaker:Um, you know, that's one we all like to brag about. But what did I bring
Speaker:in for my business? The second thing is then, well, what do
Speaker:I need to pay myself as a salary so that this
Speaker:business is sustainable? Um, so that comes
Speaker:back to, you know, personal finances in terms of, well, what
Speaker:do, what are all my expenses and what do I need to pay
Speaker:myself from this business? That's the second
Speaker:thing. And you know, so when we're looking at on a month
Speaker:to month basis, what did I actually pay myself this month? But
Speaker:then the third thing is knowing what all of your
Speaker:expenses are. Um, and, and this isn't just
Speaker:having some sort of P L. So a profit and loss,
Speaker:which, um, know the accountants always talk about
Speaker:because believe it or not, the P and L actually misses out
Speaker:certain expenses that we have. It doesn't include them because
Speaker:they're included elsewhere in the whole on
Speaker:accounting world. So we have what
Speaker:was. So really it comes down to looking at your bank account
Speaker:going, what was my income? What did I pay myself as a
Speaker:salary? What were all my expenses? And then saying,
Speaker:okay, if I take my expenses away from my income,
Speaker:how much do I actually made? Um, and then how
Speaker:much tax do I need to put aside? So it's just a percentage. Let's say
Speaker:it's 22% of that. We put that aside
Speaker:and then we get to see what do I really get to
Speaker:keep. So that's it. Like if entrepreneurs, if
Speaker:I, you know, if I was God of the entrepreneurial world,
Speaker:I would make it mandatory that every entrepreneur just track
Speaker:those, those five things. Um, if they could just
Speaker:do that, then what would happen is they then have this,
Speaker:um, they can clearly see then
Speaker:a clarity on, okay, I
Speaker:actually lost money this month, but what are the things
Speaker:that I can do to try and make more money
Speaker:Next month. Um, and, and
Speaker:it's interesting when you can visually see, you can start to ask
Speaker:yourself all the questions because often it's not just about
Speaker:I've got to sell more stuff. Um,
Speaker:it's, it's often about, well actually am I selling that stuff at
Speaker:a profit in the first place? And if not, what do I need to do about it?
Speaker:Um, so when you've got clarity on those five or six
Speaker:numbers, and I say six because if you're a product
Speaker:based business like you're selling uh,
Speaker:widgets, um, then you've got to factor in the cost
Speaker:of buying those widgets in the first place and then, you know, shipping
Speaker:them to you and then shipping them back out again. And that's called
Speaker:cost of goods sold. Um, so sometimes you break
Speaker:your expenses up into, sorry, I'm getting
Speaker:into the deep weeds. Break it up into
Speaker:the cost of getting that thing in the first place and then your
Speaker:overheads. So really keep it simple.
Speaker:What was my revenue? What did I pay myself, Sally? What were all my
Speaker:expenses? What should I put aside the tax? What have I actually got left?
Speaker:That, that if you could just do that,
Speaker:um, and learn from what that's selling you. You're
Speaker:already ahead of sort of 90 of the entrepreneurial world.
Speaker:>> Anthony Weaver: What are your thoughts on terrorists and businesses?
Speaker:Has that ah, changed, um, a little bit in the
Speaker:conversation that you're having with other entrepreneurs?
Speaker:>> Phil McGilray: Not yet, because we haven't actually seen the full effect of
Speaker:that yet and because um,
Speaker:and obviously I'm from Australia so I'm completely apolitical
Speaker:when it comes to uh, you know, U.S. politics and those sort
Speaker:of things. Yeah, um, obviously it's
Speaker:going to affect some businesses more than others. So for
Speaker:instance, uh, Donald Trump just recently said that
Speaker:Australian, um, steel and
Speaker:aluminum, um, exports, our
Speaker:exports to you, there'll be an extra 50 tariff
Speaker:on top of that. Um, and of course that affects
Speaker:businesses, it affects their, their, their profitability.
Speaker:Um, but it sort of affects their
Speaker:profitability and in a big, big way. And so it is,
Speaker:it needs to be factored in because it's just really just
Speaker:and especially on cost of goods sold. So again,
Speaker:I don't like using accounting terminology. I'm not from an
Speaker:accounting background. But you know, when we're buying, like if we were
Speaker:buying, let's say we're selling
Speaker:railway lines or something like that, you know, well, it's going
Speaker:to cost us more to, to actually buy
Speaker:those, the steel for those railways in the first place.
Speaker:So I have to factor that into my expenses and work
Speaker:out or how am I going to be profitable with cost
Speaker:going up that much? Am I going to have to just charge more?
Speaker:Um, so you do need to factor tariffs in
Speaker:because it will affect the
Speaker:profitability of your business. And somewhere if you're paying more
Speaker:for that product, then you're going to have to either reduce your
Speaker:expenses or increase what you charge to sort of factor that
Speaker:into the equation.
Speaker:>> Anthony Weaver: That makes sense. And.
Speaker:But what got you into finance in the first place?
Speaker:Besides, I mean, we know we talked about the, the grandma's jars,
Speaker:but what, what was that next? You like? Okay, I
Speaker:see what grandma was doing, but what is
Speaker:it? What else can I do? Can I take this to the next level?
Speaker:What was it for you?
Speaker:>> Phil McGilray: Well, it was interesting. Like, I, um, I
Speaker:came back from the UK. I was only 18, 19,
Speaker:19 years old when I came up from the UK and one
Speaker:of my friends who, the only friend I had
Speaker:that actually knew my grandma in England, he
Speaker:got himself into financial trouble just out of coming out of
Speaker:university. Not severe financial trouble. He finished the first
Speaker:year of his job and he had, um, you know, he
Speaker:earned like $45,000,
Speaker:um, as a civil engineer. He came out
Speaker:of that job after his first year
Speaker:and he'd spend all that $45,000 he'd
Speaker:earned and he had $5,000 in credit card debt. And he
Speaker:said, oh my gosh, he said, phil, um, you
Speaker:were telling me about your grab on budget system. Can, can you teach
Speaker:me how to do this? And so I taught him how to do it,
Speaker:helped him get out of debt, help save money.
Speaker:Um, and then I had friends from church are
Speaker:asking me how to do it. And so, and I just loved it
Speaker:because it was also obvious to me.
Speaker:And so I started teaching more and more and more people. And
Speaker:so, um, I was actually an occupational therapist
Speaker:when I first came out of university. That's where I studied to
Speaker:be. Um, and,
Speaker:and um, but on the side I was teaching people how to
Speaker:budget and save money and get
Speaker:out of debt and all those sorts of things. And
Speaker:I'd worked with literally hundreds of different families and
Speaker:couples. And then I got invited to speak at churches and, and
Speaker:so on. And then, um, and then one person
Speaker:I came up to in a church, he was actually a financial
Speaker:advisor. And he, he said to me, oh,
Speaker:would, would you be interested, I'm looking for a cadet financial
Speaker:advisor. Would you be interested in. I thought,
Speaker:yeah. And I just, I was at this point, crossroads in my
Speaker:occupational therapy degree, sorry,
Speaker:career, where it was like, not really enjoying what I'm doing. But I
Speaker:love the budgeting and the money management, all that sort of stuff. So it was perfect.
Speaker:You know, it was God's timing. Uh, and so I had
Speaker:the opportunity to become a financial advisor and then
Speaker:over the years just worked my way up, um, and
Speaker:eventually became as a partner in Australia's leading
Speaker:stockbroker financial planning firm.
Speaker:>> Anthony Weaver: So that's amazing because, you know,
Speaker:because a lot of people who are just looking at it, they was like man, well I
Speaker:should get all these certifications. Should I follow people
Speaker:who are giving practical advice? Um, how
Speaker:do you become, I guess you could say
Speaker:a person of trust and person of, you know,
Speaker:credibility. And it's like,
Speaker:well if you already proven it to so many people,
Speaker:you know, it almost validates itself at that point.
Speaker:Um, yeah, yeah.
Speaker:Can you talk about like this Thrive Financial Protocol
Speaker:though?
Speaker:>> Phil McGilray: Oh, ah, sure, yeah yeah, yeah, absolutely.
Speaker:Well, the Thrive Financial Protocol, like over the
Speaker:years like, because I started off with the absolute basics
Speaker:as an 18 year old. Um,
Speaker:I, my, my whole vision is
Speaker:to help make money simple for people. Um,
Speaker:and to, to make. So that we
Speaker:were talking before the show about, you know, how you, you got
Speaker:started because you just wanted to teach people the absolute
Speaker:basics because you didn't know them yourselves. And
Speaker:and so it's trying to simplify it
Speaker:or take all the clutter and the noise out of
Speaker:well how do finances really work and teach
Speaker:the absolute basics. And so I try, I wanted to do that in the
Speaker:entrepreneurial world as well with people that are starting out
Speaker:in business. And I'm a big believer that people should
Speaker:try and you know, if you're wired that way. Some
Speaker:people aren't. Um, my wife isn't but that's great because
Speaker:she balances me out. Um, but, but
Speaker:some, many people are and there are so many
Speaker:different ways to make money these days. Um,
Speaker:that, that doesn't involve, you know, be you being in a nine to
Speaker:five. Um, but the Thrive
Speaker:protocol is, is like Thrive is actually an
Speaker:acronym for T is for transparency.
Speaker:The first thing that we need to do, and this is personal finance, well
Speaker:as business finance really. But um, is get
Speaker:this transparency. Where do I stand financially right
Speaker:now? And this is really scary for some
Speaker:people. Um, this is really, really scary for some
Speaker:people because we're afraid about what we're going to
Speaker:find. We're afraid about what it's really going to
Speaker:look like. Um, but getting that clarity
Speaker:is so important because it gives you a baseline
Speaker:and not only that is often,
Speaker:um, often with um,
Speaker:our finances in the absence of facts
Speaker:Our brain will feed us fear. And
Speaker:so what happens is we start to worry about where
Speaker:we're at financially. We don't know, but we always
Speaker:imagine that it's a lot worse than it really is. Um, I
Speaker:mean, we started to catastrophize about our situation quite easily.
Speaker:So thrive, you know, interestingly, once
Speaker:we. Once we actually figure out where we're at
Speaker:really at, I. I hear people
Speaker:as say to me, phil, that was scary
Speaker:to start with. And I heard this hundreds of times before,
Speaker:but it is so empowering, it is so liberating,
Speaker:it is so freeing. It is so therapeutic. It is the
Speaker:cathartic. Because now what I've done
Speaker:is I've taken. I've found out what the facts
Speaker:are, and I replaced the fear with the facts. And the facts
Speaker:aren't nearly as bad as what I was worried about. And now I
Speaker:can do something about it. So t is about transparency where I'm
Speaker:at right now and where do I want to be? That's really important,
Speaker:getting clarity in what you really want. Um,
Speaker:because when you get that sort of clarity, then it helps. You
Speaker:basically defined your journey. This is where I'm at. This is where
Speaker:I want to be. Okay, now we just need to create the journey
Speaker:and then, um, the. The h in thrive is harness.
Speaker:Let's harness your cash flow. Let's put simple systems in within
Speaker:your business so that you can understand where you're
Speaker:at financially and clearly see what you need to do to move
Speaker:from, you know, where I'm at right now to where I want to be.
Speaker:R is for reclaim the joy for what you do.
Speaker:Um, and that is most entrepreneurs,
Speaker:um, you know, they get into entrepreneurship or their own
Speaker:business because they want to manage their own time. You know, they want to
Speaker:have. Be able to spend time with their families and those sort of
Speaker:things. Um, they want to be able to do something they
Speaker:actually love and believe in, and they want to earn more money
Speaker:than they could work for someone else. But when we get into the
Speaker:entrepreneurial world, suddenly it's not as easy as we thought
Speaker:it was. We find ourselves working incredibly long
Speaker:hours and, um, and we're earning
Speaker:a pittance what we do. We think I'd be better off stacking
Speaker:shelves at the supermarket. And. And not
Speaker:only that, but I'm actually starting to resent what
Speaker:I'm doing because I'm putting so much time, so much effort, so much money
Speaker:into this, and it's not giving me anything back.
Speaker:You can obviously relate to that, mate.
Speaker:>> Anthony Weaver: Uh, yeah. Every day I think about it, we are here on the
Speaker:weekend.
Speaker:>> Phil McGilray: Yeah, that's right. And that's the thing.
Speaker:And that's what happens in the entrepreneur world. So
Speaker:what I'm trying to do is once we get clarity on where we're at, where
Speaker:we want to be, once we started to harness our cash flow so we can
Speaker:really actually understand it, then what we want to do is go, okay,
Speaker:let's build a cash reserve within this business so I don't have to
Speaker:worry about, you know, um, oh my gosh, if something unexpected
Speaker:happens, I'm, I'm going to be stuffed. You know, um,
Speaker:we want to be able to pay off debt that we've got within the business so we can free
Speaker:up cash flow. We want to be able to take time
Speaker:off within the business and know that we've got the money there
Speaker:to do it. Um, and so this is about
Speaker:reclaiming our joy and paying ourselves properly.
Speaker:So that's the four key things of reclaim.
Speaker:Then we move into I, which is investing back in the
Speaker:business and investing in ourselves and investing in
Speaker:others. Um, I'm a huge believer in giving
Speaker:and using the, the, the, the profits and the money
Speaker:that we use to, to help others.
Speaker:Um, so that's about invest V is about
Speaker:vision, having some kind of roadmap that actually shows
Speaker:us exactly how we're going to work our way
Speaker:through not just building the business, but then
Speaker:creating a kind of lifely one. So I've got a roadmap that
Speaker:I, I take people through and then E is about
Speaker:Empire is about, okay, how do I
Speaker:now take my business success over here and
Speaker:turn it into personal wealth? How do I actually make that
Speaker:transition? Um, and so that's the thrive. That's the
Speaker:thrive protocol. That's the process I take all my clients through.
Speaker:>> Anthony Weaver: Man, that is amazing. So, I mean,
Speaker:I have so many more questions, but I know we coming up
Speaker:time, time wise.
Speaker:>> Phil McGilray: I'll keep that, mate. We're right.
Speaker:>> Anthony Weaver: Okay.
Speaker:>> Phil McGilray: All right.
Speaker:>> Anthony Weaver: Um, well, the next question that I have is about
Speaker:instead of taking a business like starting it from
Speaker:scratch, what are your thoughts about buying a business
Speaker:for the people who are just tired of
Speaker:working in their current business and just want to sell it. What, uh,
Speaker:are your thoughts on buying versus starting new?
Speaker:>> Phil McGilray: Look, uh, a couple of things.
Speaker:Perfectly good idea. As long as it's a business that
Speaker:you or firstly, as long as it's
Speaker:a business that you know is actually cash flow
Speaker:positive, like that is actually making money like it's,
Speaker:it's been around for a long time, it's continues to make
Speaker:lots of money. And you just need to buy it, step in
Speaker:and run it. And as long as it doesn't, it's not
Speaker:dependent on the owner that you're buying it from. Like, if,
Speaker:you know, if it's a, a brand that is this, this
Speaker:person is absolutely central to the band and this brand and the success of the
Speaker:business, then it's not going to work if you try and step into their
Speaker:shoes. Um, so as long as it, you know, if it's a business like
Speaker:running, let's say it's a local grocery
Speaker:store at the corner, and, you know, it's a very, very
Speaker:profitable business, the people that own it are retiring
Speaker:and they don't have anyone to hand it to, and you're buying it off them.
Speaker:Yeah, absolutely. Um, and so there's lots of business
Speaker:like that you can buy, but just, you just got to
Speaker:make sure that you're not buying someone else's problems.
Speaker:Um, the other thing too, is the difference between
Speaker:starting your own thing and buying a business is that when you
Speaker:start your own thing, you've obviously started it because you have a real
Speaker:passion, interest, etcetera, for that
Speaker:business or whatever that business is doing for the community.
Speaker:Um, so you don't want to go necessarily and buy
Speaker:a business that just does nothing for you internally.
Speaker:It's just a. It's just a job and it just provides money
Speaker:because it's going to be hard to get your heart into it.
Speaker:Um, but as long as it aligns with your values and your
Speaker:goals in life and those sort of things, and yeah, absolutely, it's a good
Speaker:idea. And as long as it's profitable and you know that it's
Speaker:profitable and you've had the, the books looked at by
Speaker:someone independent. That's true. Then. Absolutely.
Speaker:It's a good way to do it.
Speaker:>> Anthony Weaver: Perfect. I mean, I just wanted to get your take on it,
Speaker:that's all. Because it, it's so, uh. Everybody always talk
Speaker:about the easy part, which is just starting something, sell
Speaker:something immediately. But if you just want to take
Speaker:on somebody else's project, like
Speaker:to make it your own. That's all. I just wanted to get here your take.
Speaker:Yeah, yeah, I'm saying it. Yeah.
Speaker:>> Phil McGilray: And nothing wrong with that. As long as, again, that's profitable. And
Speaker:they're not just selling their problems.
Speaker:>> Anthony Weaver: Most of them are.
Speaker:Uh, so we're coming up to the third segment, which is the
Speaker:features. Um, so what
Speaker:habits, uh, that you think are essential, uh, for
Speaker:entrepreneurs just to kind of build their
Speaker:legacy?
Speaker:>> Phil McGilray: Um, I mean,
Speaker:obviously they have to genuinely care about what they do and make a
Speaker:difference in the lives of others. You know, you, you, you
Speaker:need, this is so, so important and it's
Speaker:so lost in the entrepreneurial world today where we,
Speaker:um, it can so easy just become all about
Speaker:the bottom line in terms of making money.
Speaker:Um, you want to make a difference in the
Speaker:lives of others because that's where the greatest joy and
Speaker:fulfillment in making money actually comes from.
Speaker:So that's the first thing that I would say in
Speaker:terms of the legacy
Speaker:of it. You want to build a business that is,
Speaker:one could potentially operate without you,
Speaker:ideally so that it is either sellable or
Speaker:passable on someone else. Um,
Speaker:so that means that as you're going deliberately build
Speaker:your systems and processes so that like, it's
Speaker:hard for entrepreneurs because so often we're visionaries and
Speaker:we like, you know, we like creating new things, but we actually
Speaker:need to slow down and build systems, build
Speaker:processes, build, you know, our, uh, standard operating
Speaker:procedures and those sort of things so that anyone can do
Speaker:them and repeat them and get the same results.
Speaker:So that's really important in terms of like legacy in terms of what you're
Speaker:talking about. Um, so I would say
Speaker:slow down, build the systems, build it. Same with
Speaker:the finances that whenever I'm working with someone with their
Speaker:finances, our goal is, first one
Speaker:is, is my income greater, my expenses? That's obvious.
Speaker:But are we doing that consistently? Then what we
Speaker:want to do is build up our, um,
Speaker:operating account so that it's approximately one and a half to
Speaker:two times our monthly operating expenses.
Speaker:Once we've got that, as long as more money is coming in and going out
Speaker:that pool, that account will gradually fill up and hit that
Speaker:every single month. Then we want to take the overflow and
Speaker:build up our rainy day fund. The
Speaker:unexpected expenses. Once we got the unexpected
Speaker:expenses covered, that, uh, account that should stay full unless
Speaker:we need it for an unexpected expense. And then we can pay
Speaker:off debt. Once we pay off debt, then we can build reserves,
Speaker:uh, which is for life events, not unexpected
Speaker:expenses. And then we can start to invest back in the
Speaker:business. And that's where we're building the base of the business wider
Speaker:so the business can go higher. So actually building a
Speaker:foundation to the business, a financially strong foundation.
Speaker:Um, and the important thing to note here is that the amount of money
Speaker:we have in our reserves account, the amount of money we have in our operating account
Speaker:is a, is a multiple of,
Speaker:um, our business expenses. So what that means
Speaker:is if I take on a new, new team member
Speaker:and they cost me $3,000 a month.
Speaker:Then if I need one and a half to two times
Speaker:my operating expenses in my operating account,
Speaker:then that means I now need 3,000 to
Speaker:five. And also five, sorry, three and a half, four and
Speaker:a half thousand, maybe even $6,000 extra sitting
Speaker:in my operating account each month. Same thing with my reserves. If
Speaker:it's three times my expenses, then I'm going to need three times that salary
Speaker:also added to my reserves. So that just means that
Speaker:you're building financial stability so that as the business
Speaker:grows, grows, you can go, you can build the
Speaker:base wider so they can go higher. Um,
Speaker:so that's, you know, again, being able
Speaker:to hand a business like that over to someone else
Speaker:in good financial shape. That's the way that we do it.
Speaker:Um, and then of course, making sure that
Speaker:it's not. Your life's not all about the business
Speaker:because again, what can happen is we can very
Speaker:easily. It's funny, we go into business,
Speaker:as I said before, because I want more time,
Speaker:I want to pay myself more than I could think, you know, someone
Speaker:else. And I want to enjoy what I do because I believe in it.
Speaker:And we get, we forget that so quickly and it
Speaker:becomes all about the business and making more money and,
Speaker:and, and yet somehow we spend all
Speaker:that money within the business because we're trying to grow it and none of
Speaker:it actually makes its way out into our personal life so that
Speaker:we can actually start to build wealth outside the
Speaker:business. Um, and, but we should be, there should
Speaker:be money coming out and we should be investing that into
Speaker:index funds and to property and all
Speaker:those sorts of things. Um, but we don't do it. And so
Speaker:most entrepreneurs, despite a relatively successful
Speaker:period to be successful business, are
Speaker:dirt poor outside of the business.
Speaker:Um, that makes sense.
Speaker:>> Anthony Weaver: No, it makes perfect sense. I see it all the time.
Speaker:>> Phil McGilray: Yeah, yeah, yeah, I'm sure, I'm sure you do. Yeah, I'm sure you do.
Speaker:>> Anthony Weaver: Uh, you know, and I want to say, um,
Speaker:thank you for sharing that piece because it is really good
Speaker:way to kind of lay out. And I never thought about the
Speaker:overflow into the different buckets.
Speaker:Um, that was something I'll probably do a deeper dive in.
Speaker:Um, yeah, on a, on a personal thing.
Speaker:So.
Speaker:>> Phil McGilray: Yeah. Well, just so that you know, this
Speaker:is exactly how I see, um, whenever I
Speaker:work with a, uh, business client or a personal client, I always
Speaker:visualize their finances like a cascade.
Speaker:Um, and so I actually, this is part of my model.
Speaker:Um, I've got a. Not, not trying to push it on
Speaker:even here But I got a book called the Cash Flow Fix where I actually talk
Speaker:through this exact model. But I have one for personal
Speaker:finances, one for business finances. And if you think about
Speaker:your income like water in a cascade, and you go,
Speaker:okay, well, my first pool is my operating account.
Speaker:And so if I'm pouring more money into that than I'm
Speaker:taking out in expenses, then that pool should just
Speaker:naturally fill up. And so that's what the way we always
Speaker:want to think about. If it's business finances, we think about that as an
Speaker:operating account. And personal finances, we think about that
Speaker:as well. How much do I need to cover my budget? Um,
Speaker:and so the goal is, of course, is to get that pool
Speaker:full. That's our first step in the process. And
Speaker:then the overflow comes out, and any
Speaker:overflow comes out and goes down to a rainy day,
Speaker:and then the debt and then the cash reserve, and then
Speaker:we get to the fun stuff down the bottom where we just. If business, that's
Speaker:growing the business, but if it's personal, that's
Speaker:life goals or investing for the future
Speaker:or giving to. To causes we care about.
Speaker:Um, and so if you always think about that, like, whenever I
Speaker:sit down with a new client, whether they're a personal client or business
Speaker:client, I'm thinking through, is there income
Speaker:great in their expenses? If not, we need to fix that. Second thing
Speaker:is, do they have enough money set aside to cover their known expenses?
Speaker:If not, that's our first step to deal with
Speaker:with the money that we're coming in. If they've got
Speaker:that, then do they have a rainy day fund for the
Speaker:unexpected? That's one that people often miss if they
Speaker:don't. And then, and then, and this is super important
Speaker:because often people with credit card debt, personal loans,
Speaker:those things, the first thing that they want to do when they get paid is I
Speaker:cover my immediate expenses. And then,
Speaker:uh, and then anything else goes off my credit card and, you know, pat
Speaker:myself on the m back. Well done, Phil. You know, you paid your credit card down,
Speaker:but then something unexpected comes up, or a big bill or something
Speaker:like that. Oh, now I need to put
Speaker:it back on the credit card, and I'm stuck in this cycle.
Speaker:Um, and so by actually going
Speaker:in, deal with the income, grant expenses. Is my income
Speaker:granted expenses? Have I got enough set aside for my known
Speaker:expenses? Have I got enough set aside for my unknown expenses in
Speaker:my rainy day fund? At that point, I've broken the paycheck
Speaker:cycle. I've also broken the need to actually have to use
Speaker:a credit card. So what that means is that every dollar I then
Speaker:pay off my personal debt, stays off my personal debt,
Speaker:um, because I've got everything else covered
Speaker:up above. Um, and I've. My clients
Speaker:in the last five years have paid off over $18 million
Speaker:in credit card debt simply by following that
Speaker:process.
Speaker:>> Anthony Weaver: That's amazing. That's definitely amazing. I mean,
Speaker:congrats to you and your process. I love it. Um, that
Speaker:is something that. I never looked at it that way, but
Speaker:I guess we all do. We both pretty much do the same thing for
Speaker:our clients. And that it's. I like your
Speaker:visual aspect of it. I'm definitely going to have to try
Speaker:that one, if you don't mind me stealing it.
Speaker:>> Phil McGilray: No, mate, go for it. It helps people. And,
Speaker:um, it's. It's as said, because I've been doing
Speaker:this for so long, you basically develop these
Speaker:processes, this, uh, that. That help you
Speaker:explain things to people so they understand.
Speaker:Oh, okay. This is the step I'm up to. I need to
Speaker:do this first, and then. And then what do I need to do to move the
Speaker:next step? And it just makes it so much
Speaker:simpler. So, yeah, go for it.
Speaker:>> Anthony Weaver: Thanks.
Speaker:Are, uh, you ready for the final four questions?
Speaker:>> Phil McGilray: All right, let's go for it.
Speaker:>> Anthony Weaver: Cool. So question number one. What does
Speaker:wealth mean to you?
Speaker:>> Phil McGilray: Wealth means to me,
Speaker:um, the
Speaker:opportunity to make a difference.
Speaker:I'm not a big believer in wealth for wealth's
Speaker:sake. Um, and I know a lot of people are,
Speaker:but, you know, having worked with, like, when I was a, you know,
Speaker:my stockbroking firm, I had clients that were worth
Speaker:millions and millions and millions of dollars, and.
Speaker:And they were just as unhappy as the next person. In
Speaker:some cases, they were, you know, more so unhappy. And
Speaker:the thing is, too. And the sad thing was a lot of my clients, I
Speaker:saw a lot of my clients get very wealthy, and then, you know, they pass on,
Speaker:and then they give it to their kids and the kids just blow it.
Speaker:And so wealth to me is the opportunity to make.
Speaker:Make a difference and to be able to obviously support my family
Speaker:and to live, uh, you know, a happy,
Speaker:comfortable, fulfilled life. But
Speaker:the greatest joy for us. And I, I truly believe this, the
Speaker:greatest joy in having money is using it to change the lives of
Speaker:others. Um, over the years, we've been able to give.
Speaker:I haven't added it all up, but, um,
Speaker:probably at least hundreds of thousands of dollars, but it'd be probably
Speaker:millions to. To causes we care about. And
Speaker:we've been, you know, Cambodia and visited the water and
Speaker:sanitation Projects and those sorts of things. And you know, one of
Speaker:my biggest dreams is actually to be able to, of the
Speaker:entrepreneurs that I work with or the families that I work with is to get them
Speaker:to the point where they go, well, let's go with Phil
Speaker:to one of these projects and actually let's help build houses
Speaker:and do things and so that they get an experience of a
Speaker:third world country, but also the difference we can make with
Speaker:relatively small amounts of money. Um,
Speaker:so that's, that's. Sorry, that's what it means for me. I'm not a big
Speaker:believer in accumulating for the sake of accumulating.
Speaker:>> Anthony Weaver: Yeah, we might have to catch up offline to,
Speaker:to do that because I would actually like to be part of that project
Speaker:as well.
Speaker:>> Phil McGilray: Um, yeah, absolutely, yeah, absolutely, yeah. Please contact.
Speaker:Let's have a chat about it at some point. Yeah, yeah.
Speaker:>> Anthony Weaver: Um, number two, what was your worst money
Speaker:mistake?
Speaker:>> Phil McGilray: Oh, mate, there
Speaker:is so many. There are so many. Um,
Speaker:and can I say to anyone listening to
Speaker:this, one of the reasons money is such a
Speaker:big taboo topic in our society is because
Speaker:we walk around thinking that everyone else has
Speaker:got them themselves sorted out when it comes to money.
Speaker:Um, and we think we're the only one that's got these
Speaker:money problems or that we don't know how to do it. And we made all these stupid
Speaker:mistakes and we're embarrassed, we're ashamed,
Speaker:where, you know, we're fearful and anxious
Speaker:and yet. And then because of that, we don't want to talk to
Speaker:anyone about it. Please let me tell you.
Speaker:And again, this is 10 years or sorry, 30,
Speaker:35 years plus of experience. But,
Speaker:um, the,
Speaker:um, there was something I was gonna say with the 10
Speaker:there, um, 35 years experience. And
Speaker:I can tell you everyone has
Speaker:made stupid mistakes with their money and they're not
Speaker:stupid because I say that I probably shouldn't use the word stupid,
Speaker:their mistakes. Because we don't know any better. No one
Speaker:has else has taught us any better. So I have
Speaker:made mistakes with six figures behind
Speaker:it on at least three occasions. So.
Speaker:Okay, so, so big, big, big, big,
Speaker:big mistakes, uh, investment mistakes.
Speaker:Um, like I've made a couple of really big investment
Speaker:mistakes, um, that are,
Speaker:ah. And some of it was just,
Speaker:believe it or not, some of it was just immaturity and
Speaker:greedy trying to get in on a really good opportunity
Speaker:that wasn't, um, you know,
Speaker:often the financial institutions that engineer these products,
Speaker:like we had this, um, big
Speaker:investment firm here in Australia, um,
Speaker:right before the global recession back in
Speaker:2009. That it engineered this, this product
Speaker:so that even if the market was a bit like selling a Titanic, I
Speaker:think they said that even if the marks were really, really dump,
Speaker:you would still do okay. And we built all these,
Speaker:these things into the product so that it was financially
Speaker:engineered so that it couldn't fail. Then the, the financial
Speaker:crisis hit and it failed in a big,
Speaker:spectacular way. You know, it wasn't supposed to sink,
Speaker:but it did. Um, so, you know, I
Speaker:think, um, and every time, my
Speaker:belief is every time we either chase the get rich
Speaker:quick the dream, or we chase
Speaker:something that has been financially engineered and structured
Speaker:to be the perfect product, you're going to lose money.
Speaker:I think every time you move away from the basics of
Speaker:simple, you know, index funds,
Speaker:uh, you're going to get yourself, you
Speaker:know, I really believe the index funds are the way.
Speaker:Um, but every time you try something that looks
Speaker:like it's too good to be true, it probably is.
Speaker:>> Anthony Weaver: Been there. So.
Speaker:>> Phil McGilray: Yeah, that's right. Yeah. Yeah, that's right.
Speaker:>> Anthony Weaver: We might have to put a whole another episode.
Speaker:Like, I might have to start taking that question
Speaker:out and make that, like, the middle question, because
Speaker:this one gets the most, I guess you could say energy.
Speaker:>> Phil McGilray: Um, yeah.
Speaker:>> Anthony Weaver: And I really think, because we have so many of them to
Speaker:go through, but.
Speaker:>> Phil McGilray: Yeah, that's right. Yeah. Yeah, exactly right. I
Speaker:could give you a list as long as it hugs my, um, arm of mistakes
Speaker:that I've made. And so, yeah, for everyone out
Speaker:there, uh, even the financial experts actually make
Speaker:mistakes, but they just make them bigger. So. So,
Speaker:uh, please don't worry about yours.
Speaker:>> Anthony Weaver: Okay.
Speaker:Number three. Uh, is there a book that
Speaker:inspired your journey or changed your
Speaker:perspective?
Speaker:>> Phil McGilray: Is there a book that inspire. I mean, obviously I love Dave
Speaker:Ramsey's books. Um, I was, I was fortunate when
Speaker:I was over there in my Winston Churchill fellowship to spend
Speaker:some time with Dave Ramsey and some of his team,
Speaker:um, a few years back there. Um, I love
Speaker:what they do. I absolutely love what they do.
Speaker:Um, I did start, though, before
Speaker:Dave Ramsey, I think, from memory. So, uh,
Speaker:mind you, he's obviously done a brilliant job of marketing himself and making
Speaker:a difference to the world. Um, the,
Speaker:um, the. The book that I've
Speaker:read more recently, and I'd encourage everyone to have a read
Speaker:of it. It's called the Psychology of Money.
Speaker:>> Anthony Weaver: Um, great book.
Speaker:>> Phil McGilray: Yeah, A brilliant book. Like, in terms of just
Speaker:breaking the basics down. Like, I, I really
Speaker:love this book because unlike that, there's a lot of books out,
Speaker:um, that are very hypey and very
Speaker:much the influencer uh,
Speaker:age type books and I'm not a big fan of them.
Speaker:Um, but this book talks
Speaker:so clearly about,
Speaker:um, just the mistakes and the thinking and
Speaker:the, and, and, and
Speaker:yeah, just the mistakes we fall into on a day to day
Speaker:basis and, and how to actually recognize them for what
Speaker:they are so that you can avoid them. Um, and
Speaker:in the, at the heart of it is such a simple message. You
Speaker:know, spend less than you earn and invest wisely. Like
Speaker:it's, it's not rocket science. So, uh,
Speaker:yeah, fantastic. But I'd encourage anyone to have a read
Speaker:of it.
Speaker:>> Anthony Weaver: And if a book doesn't talk about those two things,
Speaker:it's not a financial book, so.
Speaker:>> Phil McGilray: No, that's right. No, that's exactly right.
Speaker:>> Anthony Weaver: Um, the only thing I don't like about his book is that he didn't do
Speaker:a woman's perspective. He only talked
Speaker:about from the male side of the house. So if there's a lady
Speaker:listening right now, if you think you can
Speaker:write from a woman's perspective, I think that would actually be
Speaker:a really great opportunity to
Speaker:say, um, number four,
Speaker:what is your favorite dish to make?
Speaker:>> Phil McGilray: Ah, I'm a real sweet tooth. So I, I know you're
Speaker:probably talking about mate. I mean I love pizza.
Speaker:Okay. But I'm a real sweet. So actually
Speaker:chocolate pudding is my favorite. Uh, my, my
Speaker:favorite dish to make. Yes. I'm, I love my chocolate
Speaker:and I do a lot of running. So it,
Speaker:I think I run so that I can eat these days. I think
Speaker:that's how it works. But uh,
Speaker:yeah, chocolate pudding. But, um, but like any
Speaker:kind of pizza, pretty much. Um, and I
Speaker:know here in Australia we had influences
Speaker:from all over the world. So
Speaker:um, we don't really have anything that's
Speaker:typical Australian other than just the barbecue.
Speaker:Um, but yeah, pizza
Speaker:would be it for me.
Speaker:>> Anthony Weaver: Nice.
Speaker:Uh, so this is going to be the last question of the show, which is
Speaker:where could people find out more about you?
Speaker:>> Phil McGilray: Um, well, depends if they're, if they're looking at
Speaker:personal finances, then I, I have
Speaker:grandma's jars dot com. Um,
Speaker:which is like grandma's jars as in glass jars.
Speaker:Um, that's where I have all my personal finance stuff. If
Speaker:it's business finance and it's phil
Speaker:mcgilray.com and I assume they'll be
Speaker:in the show notes, but I know the spelling of that's a bit, bit wiggly.
Speaker:Um, but Phil mcgilray.com from a business
Speaker:perspective.
Speaker:>> Anthony Weaver: Uh, perfect. And Phil, thank you so much for
Speaker:your insight giving us the thrive, uh, protocol, understanding
Speaker:and really having us understand the
Speaker:pure basics of, uh, from
Speaker:personal and business side of the house. So if you're
Speaker:listening to this and you think that you want to take action
Speaker:today, please go ahead on and save this
Speaker:episode. Share with somebody. Share with somebody that you want to start a
Speaker:business with. I think this will be a great
Speaker:opportunity for you all to take
Speaker:yourself to that next level. And all
Speaker:means y' all be safe. Yeah.
Speaker:>> Phil McGilray: Peace.
